AIIB approves USD 100 mn loan to improve Bangladesh Water Supply

Date: 12/07/2019     Time: 9:10 PM

The Asian Infrastructure Investment Bank (AIIB) Friday approved a USD 100 million loan to Bangladesh to accelerate the country's efforts to deliver improved water supply and sanitation services to underserved communities. The Bangladesh Municipal Water Supply and Sanitation project will support investments in water, sanitation and drainage infrastructure in 30 municipalities, where households continue to rely on public standpoints and shallow-tube wells, noted an AIIB press release. The AIIB is holding its annual conference in Luxembourg for the first time outside Asia on Friday and Saturday. Once completed, about 600,000 people are expected to be connected to new piped water supply systems and benefit from improved sanitation services in Bangladesh. "This project is expected to directly contribute to the achievement of Sustainable Development Goal (SDG) 6, which is to ensure access to water and sanitation for all," said AIIB Director General Supee Teravaninthorn. Key components of the project also include capacity building at the national and local levels and project implementation and management support. The Bangladesh Municipal Water Supply and Sanitation project, which is co-financed with the World Bank, is AIIB's fifth investment in Bangladesh, all of which are aligned with the country's top priority development plans and the SDGs, added the press release.